Helping the UK recovery - Our corporate plan for April 2021 - March 2022
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Money and Pensions Service Corporate Plan (2021/22) 1 Helping the UK recovery Our corporate plan for April 2021 — March 2022
Money and Pensions Service Corporate Plan (2021/22) 1
Our purpose
Vision Mission
veryone making
E
We help people – particularly those most in need –
to improve their financial wellbeing and build a better,
the most of their
more confident future. Working collaboratively across
the UK, we make sure customers can access high-
money and pensions
quality money and pensions guidance and debt
advice throughout their lives, however and whenever
they need it.
Principles and values
1. Customer and outcomes focused
2. Evidence-led 3. Agile and 4. Efficient and
and targeted innovative effective
5. Leading by example
Caring - Connecting - Transforming
Money and Pensions Service Corporate Plan (2021/22) 2
Contents
Foreword3
Introduction3
About MaPS 4
Our priorities 5
1. Helping people in financial crisis 6
2. H
elping people in need manage
their money today 8
3. H
elping people with their
pensions and financial future 10
4. W
orking with partners to
improve financial wellbeing 12
5. Building on strong foundations 14
Measuring success 16
Our budget for 2021/22 18
Money and Pensions Service Corporate 3
Plan (2021/22)
Foreword Introduction
The Money and Pensions Service has Over the past two years MaPS has built
a straightforward vision: everyone strong foundations for the organisation to
making the most of their money and meet the changing needs of our customers:
pensions. That is because when people unifying our customer services to secure
feel more in control of their finances, back-office efficiencies, working with
individuals and communities are healthier, partners in all four nations to formulate
businesses are more prosperous and the an ambitious UK Strategy for Financial
economy benefits. Wellbeing for the next decade and taking
on the vital role of overseeing the Pensions Dashboard Programme.
The coronavirus (COVID-19) pandemic continues to have a historic impact on the
UK economy and people’s personal finances. For many who were already struggling, The past year has highlighted the importance of our role in supporting the vulnerable
COVID-19 has made things worse. According to the most recent Financial Conduct and most in need with their financial wellbeing. We secured an extra £37.8 million in
Authority (FCA) Financial Lives Survey, an additional 3.5 million adults now have low debt advice funding from Government in 2020. For 2021/22 record levels of funding
financial resilience.1 Many households, already in a precarious financial situation before have been maintained: enabling an additional one million people in England to get debt
the current crisis, are now struggling to keep afloat. advice, while enhanced money guidance is available to a further two million.
MaPS has a statutory remit to focus on helping those most in need and in vulnerable Directly and with our funded delivery partners, we delivered one million customer
circumstances. We do this by supporting people day-to-day to build financial advice or guidance sessions in 2020/21, with many millions more using our digital
resilience throughout their lives, as well as during two of the most important financial services. Our people are driven by delivering targeted, effective and efficient
circumstances they may ever experience: being in financial crisis and planning for outcomes for the UK population. I want to personally thank them all for continuing
their futures. We are fully focused on helping people repair their finances and to work so diligently to help people in the increasingly challenging circumstances
prepare their futures. brought about by COVID-19.
To truly build back better from this pandemic, we know we must work with partners to This year, we are replacing our Money Advice Service and The Pensions Advisory
maximise outcomes for all people in the UK. We exist in an ecosystem of money help Service customer brands with a single new brand – MoneyHelper. It will be the single
that can be confusing for people to navigate. It is difficult to know who to trust. We gateway for money and pensions guidance over the phone, online and face to face,
continue to be at our customers’ side, directing people to the best solution for them. whilst utilising our connections across the sector to link people with other free support
This may be delivered by us, or it may be delivered by others. What is important is it services, if that is what is right for them.
delivers results.
MoneyHelper builds on strong foundations from our legacy services to help people with
This corporate plan outlines how MaPS will work as part of the unified government their financial choices across their lifetimes, in a holistic way, from pocket money to
effort to support people’s finances and improve their lives. Through our expert pensions. Whilst the brand will be new, our purpose remains unchanged: helping people
guidance, high-quality debt advice, digital tools and services – and by collaborating with access high-quality guidance and advice to make the right financial decisions today in
others – we will help people build financial wellbeing now so that in the future everyone order to build for a better tomorrow.
can make the most of their money and pensions.
Caroline Siarkiewicz,
Sir Hector Sants, Chief Executive Officer
Chair
1 FCA, Financial Lives 2020 survey: the impact of coronavirus, 11.02.21: https://www.fca.org.uk/publication/research/financial-lives-survey-2020.pdf
Money and Pensions Service Corporate Plan (2021/22) 4 About MaPS The Money and Pensions Service (MaPS) was set up by the Financial Guidance and Claims Act (2018). We are an arm’s-length body, sponsored by the Department for Work and Pensions (DWP), funded by levies on both the financial services industry and pension schemes. The work of MaPS is across five core functions: n Pension guidance – providing support and guidance to consumers on UK workplace and personal pension matters, whilst supporting those aged 50 and over to make decisions on their defined contributions pension pots. n Debt advice – as the biggest funder of free information and advice on debt in England, while driving up the quality of debt advice and providing training and support to advisers on the ground across the UK. n Money guidance – enhancing millions of people’s knowledge and understanding of financial matters – targeting those potentially vulnerable or most in need – as well as helping their day-to-day money management skills through free, impartial money guidance. n Consumer protection – working with government and regulators to protect consumers against financial scams and support the efforts of the wider financial services industry to protect consumers. n Strategy – we launched the UK Strategy for Financial Wellbeing in January 2020 as a framework for how we will work with organisations in many different sectors across our nations to make a measurable difference to UK money management. We also have a specific mandate from government: to facilitate the pensions industry to develop pensions dashboards. This programme of work will allow individuals to access their pensions information online, securely and all in one place: supporting better planning for retirement.
Money and Pensions Service Corporate Plan (2021/22) 5
Our priorities
Coordinating
Delivering for customers and improving people’s
the UK Strategy for
financial wellbeing throughout the UK
Financial Wellbeing
1. Helping people in 2. Helping people in 3. Helping people 4. Working with
financial crisis need manage their with their pensions partners to improve
money today and financial future financial wellbeing
n Commission high-quality n Provide increasingly n Drive progress in enabling n Launch national delivery
debt advice in England targeted high-quality money pensions dashboards plans for the UK Strategy
guidance through our
n Support the rollout of n Deliver high-quality and n Start to build a new digital
services and with partners
Breathing Space in England targeted pensions guidance hub and resources for
n Help money practitioners partners
n Drive transformation in
across the UK improve
the debt advice sector n Lead and support key
their impact
across the UK initiatives to drive the
national goals
Financial Foundations
Nation of Savers
Credit Counts
Better Debt Advice
Future Focus
5. Building on strong foundations
Money and Pensions Service Corporate Plan (2021/22) 6
1 Helping people in
financial crisis
Even before the COVID-19 pandemic, need for debt advice exceeded capacity in the
sector.2 We are yet to see the full extent of the impact it has had on people’s finances –
but we anticipate that for millions of people across the UK, it has made their financial
situation worse. As the successful rollout of the vaccine programme leads us out
of the health crisis, debt advice services – and other vital crisis support – are critical
in continuing to help individuals and, more broadly, help support the UK’s economic
and social recovery.
Our ambition is to help ensure that everyone who needs debt advice across the UK
can easily access high-quality services – when, where and how they need it. We fund
debt advice, training and infrastructure in England. Proportionate funding is allocated
to devolved governments for the provision of debt advice in Northern Ireland, Scotland
and Wales. For strategic matters across the UK, we work closely with the devolved
administrations in Northern Ireland, Scotland and Wales.
In 2021/22, we will:
n commission high-quality debt advice in England – including digital, telephone and
face to face, and built around customers’ needs;
n support the rollout of Breathing Space in England – a landmark policy giving people
in problem debt the right to legal protections from their creditors; and
n drive transformation in the debt advice sector across the UK – working with
partners to improve how customers are engaged and supported to help create
a more efficient, effective and resilient sector.
3
8.5 million people
in the UK are over-indebted3 2 The Independent Review of the Funding of Debt Advice in England, Wales and Northern Ireland Report, January 2018:
https://masassets.blob.core.windows.net/cms/files/000/000/900/original/Peter_Wyman_Review_of_Debt_Advice_
Funding_2018.pdf
3 FCA Financial Lives 2020 survey: the impact of coronavirus, 11.02.2021: https://www.fca.org.uk/publication/
research/financial-lives-survey-2020.pdf
Money and Pensions Service Corporate Plan (2021/22) 7
Commission high-quality debt advice Support the rollout of Breathing Space Drive transformation in the debt advice
in England in England sector across the UK
Debt advice The new Breathing Space scheme was launched in To deliver consistently high-quality, life-changing
England and Wales in May 2021. This offers people services, and at the same time sustainably bridge the gap
We will commence a commissioning exercise, with new
in problem debt the right to legal protections from between levels of need and sector capacity – across the
debt advice services going live from April 2022. MaPS
their creditors, allowing them a period of time to get whole of the UK – we need a more efficient and effective
has been provided with increased funding for 2021/22
professional advice. There are two types of respite – delivery model.
to respond to the pandemic. The amount of advice we
a standard breathing space for up to 60 days, and a
commission will ultimately depend on demand, but we Working closely with the UK government, devolved
mental health crisis breathing space, which has stronger
are currently expecting to increase debt advice capacity administrations, creditors and debt advice sectors in
protections, lasting as long as the person’s mental health
for up to a further 500,000 people in England – helping each nation, we will continue our existing work to develop
crisis treatment, plus 30 days.
up to one million people in total. and improve sector infrastructure, including:
In England, we are working closely with HM Treasury
We will do this by increasing the use of digital services, n broader use of the Standard Financial Statement
and the Insolvency Service to support the successful
which customers have increasingly used through the across the UK;
implementation of both types of respite.
pandemic. As these services are typically lower cost, they
n building on learnings from the Pilot of Adviser
will enable us to serve more people with the funds we We will:
Capacity and Efficiency (PACE) in England;
have available, improving value for money.
n support the standard breathing space in current
n continuing to strengthen relationships with local
However, we recognise that some people may find it debt advice delivery arrangements;
authority, government, utility and other creditor sectors
difficult to access and effectively use digital services –
n fund and support a pilot implementation of the to promote effective referrals into debt advice; and
including some people with particularly complex needs
breathing space mental health access mechanism –
– and so we will ensure a full range of channel offering n defining new digital services across debt advice
providing a much-needed service for highly
remains in place. and money guidance, to be delivered by MaPS and
vulnerable customers; and
partners in response to the COVID-19 pandemic.
Debt Relief Orders (DROs)
n fund free Breathing Space training for debt advisers
We will also continue to work with StepChange and
Critically, we will continue to fund Debt Relief Order (DRO) and a specialist support service to help debt advisers
others on engagement with the COVID Payment Plan
administration costs in England. This is an activity that with particularly challenging issues linked to
(CVPP) – a short-term support option, as an alternative
advice providers have historically had to ‘cross-subsidise’ Breathing Space.
to full debt advice.
from other funding sources, so our intervention enables
Through the delivery of the UK Strategy for Financial
delivery partners to focus more of their existing
Wellbeing, we are also exploring ways to work together
resources on providing debt advice.
with the NHS in England to make it easier to refer people
with mental health problems to seek suitable financial
help and support, including within the IAPT Programme
(Improving Access to Psychological Therapies) and
Social Prescribing services. We will work with the
devolved administrations to identify similar opportunities
in each nation.
Money and Pensions Service Corporate Plan (2021/22) 8
2 Helping people in need
manage their money today
The pandemic has shown the importance of financial resilience. The impact is still
unfolding; however, it is clear some groups are in an increasingly vulnerable financial
position. We believe good money guidance has a key role to play in helping those who
are most in need feel secure and in control of their finances, improving their resilience
and strengthening their financial position.
We ensure that people can freely access the help they need to make more informed
decisions about their money and build their resilience to financial shocks – particularly
focusing on those who most need it.
The landscape of providers is vast and complex – from dedicated money experts and
websites focused on helping people to make the most of their money, to those with a
broader area of focus, where money issues are just one part of the conversation. Our
ambition is to help make it as easy as possible for people to access and navigate high-
quality money information and guidance – whether they come to us or go elsewhere.
In 2021/22, we will:
n provide increasingly targeted high-quality money guidance through our services
and with partners – refining our service so that it is more targeted to those who
need it most and is focused on filling gaps; and
n help money practitioners in other organisations across the UK improve
their impact – raising the quality of money guidance provided by thousands
of organisations and practitioners.
4
11.5 million people
have less than £100 in
savings and investments4
4 Money Advice Service, Financial Capability Survey, 2018: https://beta.ukdataservice.ac.uk/datacatalogue/studies/
study?id=8454 Combined with ONS, Population estimates for the UK (mid-2018).
Money and Pensions Service Corporate Plan (2021/22) 9
Provide increasingly targeted, high-quality money guidance through our services Help money practitioners across the UK
and with partners improve their impact
We are increasingly focusing our services on those In healthcare, we see a particular opportunity due to the Money touches every aspect of our lives, and money
most in need and in vulnerable circumstances, providing clear links between financial wellbeing and mental and guidance is often given as part of wider services
guidance where it is lacking. In 2021/22, we will build a physical health. We will work with all four health systems provided by thousands of diverse organisations and
multi-year plan to implement these enhancements. This in the UK, including each department of health, each practitioners. These could include health professionals,
will include providing more targeted money guidance national health service and wider health partners. We will social workers, housing officers and many others.
content, establishing our approach to when and how we particularly focus on supporting people who have mental Giving money guidance can be an undervalued part of
signpost to others, and building in money guidance to our health and money problems. a person’s role and the skillset needed has not been
pensions and debt services where appropriate so that defined. Support and training is inconsistent and not
The workplace is a key delivery channel. We will support
we offer a more holistic service for our customers. universally accessible.
employers – large and small – to understand what they
We will launch the new MoneyHelper brand across our can do to build their employee wellbeing, what is most We’ve created Money Guiders, a programme that is the
new single website and contact centre. MoneyHelper effective and how to promote it. As part of our co- first of its kind, helping to raise the quality of money
replaces our legacy financial guidance websites and ordination role for the UK Strategy we will help build guidance across the UK. The aim of the programme is
provides a single place for customers to go. This year a community of employers that care about and share to help practitioners and organisations deliver money
we will deliver at least 235,000 high-quality money their work on financial wellbeing. guidance well by developing skills, understanding,
guidance sessions through webchat, WhatsApp, emails, confidence and capacity.
letters and over the phone, providing channel choice
This year, we will work with a cohort of organisations and
for our customers.
practitioners across the UK to pilot the implementation
Our established relationships with organisations at UK, of the Money Guidance Competency Framework, tools,
national, regional and local levels enables us to reach e-learning and award. We will launch Money Guiders
those in communities that need help the most. We will networks in each nation to support practitioners with
strengthen partnerships with the public sector to identify ongoing learning, connection and sharing opportunities
collaborative opportunities to embed money guidance to help them deliver money guidance well.
within public services, such as helping people on
Universal Credit.
Consumer protection n Our consumer protection function will utilise the rich n We will also leverage the synergies with our other
data and insight gathered from our customer reach statutory functions, including filling gaps in money
n We have a statutory duty to notify and work with
and in-house technical expertise to alert government and pensions guidance provision where our insights
the FCA where we become aware of practices
and regulators to specific issues. We will help identify highlight consumers are at risk of financial harm.
detrimental to consumers, and to consider the effect
trends to inform the work of the FCA and others where
of unsolicited direct marketing on consumers.
we can help mitigate the impact on consumers.Money and Pensions Service Corporate Plan (2021/22) 10
3 Helping people with their
pensions and financial future
Almost everyone could benefit from help in planning for their financial future and
achieving good retirement outcomes. People face a highly complex pensions
landscape, where decisions can be irreversible and the impact of making the
wrong choice is significant. We are at people’s side as they navigate this landscape,
supporting them to make the choices that will deliver the best results for them.
As we look ahead, we do not know what the long-term impact of COVID-19 will be;
however, we anticipate increasingly greater calls on our services in the coming years.
We are the UK’s only provider of free impartial guidance that supports people across
their pensions and at all stages of their pensions journey. Our aim is to help people to
make informed decisions so they manage their money in the lead up to, and during,
retirement. We are transforming the pensions landscape through delivering new
pensions dashboard infrastructure for industry. Our trusted, expert advisors help
people navigate through some of the biggest and most impactful financial decisions
of their lives.
In 2021/22, we will:
n drive progress in enabling pensions dashboards: delivering the technical
architecture for industry and starting to build our own dashboard; and
n deliver high-quality and targeted pensions guidance: 420,000 expert pension
guidance sessions, implementing legislative changes and building our Pensions
Transformation Programme.
5
22.5 million working age adults
say they don’t know enough to plan
for retirement5
5 Money Advice Service, Financial Capability Survey, 2018: https://beta.ukdataservice.ac.uk/datacatalogue/studies/
study?id=8454 Combined with ONS, Population estimates for the UK (mid-2018).Money and Pensions Service Corporate Plan (2021/22) 11
Drive progress in enabling pensions Deliver high-quality and targeted pensions guidance
dashboards
We are leading the Pensions Dashboards Programme A key part of everyone’s financial lives should be As part of our consumer protection brief, we will continue
on behalf of government. Through this work for the first planning for the future. Our trained experts will deliver to monitor the impact of COVID-19 on people’s retirement
time, customers will get a single view, in one secure place 420,000 high-quality pension guidance sessions plans, on how businesses and pension schemes respond
online, of their private pensions – including lost pensions throughout the year, helping people make informed to the economic challenges that they face, and on its
– and their state pension. MaPS has two commitments decisions about planning for the future. implication on pensions. We will reach out and offer
in relation to pensions dashboards: to put in place the support, particularly where we see increased risks to
We will start work on our Pensions Guidance
digital architecture to make dashboards possible and to pension savers, to ensure that consumers are protected
Transformation Programme. Our long-term objective
launch our own dashboard. from scams and high-risk transactions.
is to provide even more efficient and effective pensions
Over the next year we will continue to work closely guidance, with greater channel choice and a more We will continue to build upon the specialist work and
with DWP, regulators and industry to build the digital holistic, seamless customer journey. 2021/22 will be a support that we provide to people when faced by major
architecture and identity services that will enable foundational year and we will establish our full plan for events such as a scheme restructure or redundancy –
partners to deliver their own dashboard offer, giving what we develop and implement. As part of this, those instances where people may be forced to take
greater choice to customers. We will set out our roadmap we will develop our mid-life guidance strategy working unexpected and complex financial decisions about their
for delivery and agree with our industry partners the with government and industry. pensions – and continue to augment and evolve the
design and data standards we are aiming to achieve. work we do in scam prevention and support to victims
We will design and pilot elements of the programme,
Consumer protection must be built into pensions of pension and investment scams.
including key responses to upcoming legislative
dashboards and we will work with The Pensions
changes. This includes implementing a new guidance
Regulator and the FCA to ensure we have the right
appointment for those at risk of scams, and processes
consumer safeguards in place within the regulatory
to support the referral of people to Pension Wise
framework for dashboards.
from providers.
We will build the first prototype of the MaPS pensions
We will start to create a holistic pensions ‘front door’
dashboard and test its integration into the pensions
(digital and phone) so that we can assess consumer
dashboard programme digital architecture. It will be
needs and triage them to the right guidance, through
essential to maximise the effectiveness of the MaPS
the right channel, first time. We will initiate work on a
pensions dashboards, we will start to scope and design
Pension Wise digital appointment to meet increased
a new Retirement Planning Hub that has our dashboard
demand and work to increase take-up through
at its heart. This hub will help customers be clear on
distribution and enhanced links with other guidance. The
what action to take now they know what their retirement
channel strategy for Pension Wise will be increasingly
income could be.
refined so that we can encourage more people to use
lower-cost channels where that works for them. Integral
to this work is defining the measures for success across
each initiative. This will enable us to monitor and gather
data in the best way that will allow the Programme to
continuously evolve.Money and Pensions Service Corporate Plan (2021/22) 12
4 Working with partners to
improve financial wellbeing
In January 2020, we published the 10-year UK Strategy for Financial Wellbeing –
a collective and collaborative strategy for many thousands of organisations across
the UK. This set out five ambitious national goals to transform the UK’s financial
wellbeing. A little more than a year on and these are more important than ever –
critical to helping the UK through its recovery over the next few years and beyond
to a financially healthier and more resilient future.
Since publishing the UK Strategy, we have worked closely with 145 key partners from
across the diverse UK financial wellbeing community to co-create a roadmap to achieve
the national goals. Organised into 11 themed groups, the team members – each an
influential leader in their field – worked together to provide a suite of recommendations
for initiatives that could be taken forward by a range of key organisations, including
MaPS. These, along with ideas and inputs from roundtables in Northern Ireland,
Scotland and Wales of more than 250 participants, and from broader stakeholders
across the UK, have informed and shaped national delivery plans for each of the four
nations, which we will publish in the coming months.
In 2021/22, we will:
n launch national delivery plans for the UK Strategy – working closely with the
devolved administrations, start to co-ordinate new and existing forums to drive
delivery towards the national goals;
n start to build a new digital hub and resources for partners – a new self-serve
partner platform to share insights and resources in future years; and
27.7 million people n lead and support key initiatives to drive the national goals – through our services
for customers, evidence and insights, and by supporting policy and innovation.
in the UK have characteristics 6
of financial vulnerability6
6 FCA, Financial Lives 2020 survey: the impact of coronavirus, 11.02.21: https://www.fca.org.uk/publication/research/
financial-lives-survey-2020.pdfMoney and Pensions Service Corporate Plan (2021/22) 13
Launch national delivery plans for Start to build a new digital hub and Supporting Financial Foundations
the UK Strategy resources for partners n Complete ongoing financial education pathfinders
for teacher training in Wales, 16–17-year-olds in
England, and parenting in Scotland and Northern
Effective co-ordination and collaboration between a wide Achieving our vision of everyone making the most of
Ireland; and seven ongoing innovation pilots.
range of sectors and organisations will be critical to their money and pensions will require many thousands
driving progress towards the national goals. As the co- of organisations – big and small – to play their part. n Continue to fund the Financial Education Quality
ordinator, we will set up a new partner delivery structure It needs to be as easy as possible to get involved, Mark and support the distribution of Your Money
– starting implementation in 21/22 and growing to access high-quality resources and tools proven Matters financial education textbooks in Scotland,
over subsequent years – including evolving existing to make a difference to people’s lives and to become Wales and Northern Ireland.
stakeholder forums and creating new ones to fill gaps. part of a national conversation about improving
n Evaluate the Talk, Learn, Do (TLD) pilot being run
financial wellbeing.
This will include: by NatWest – an evidence-based intervention for
To enable this, we will build a new digital financial parents, developed by MaPS. We will also start to
n National Delivery Forums – one in each nation,
wellbeing platform for partners across the UK to use. adapt TLD into other versions, including for older
responsible for leading and co-ordinating activities
Starting work towards the end of 2021/22, it will evolve children and young people.
in the national delivery plans. Working together with
in future years to provide a range of content, such as
the devolved administrations, we will evolve and co- Supporting the national goals through innovation
data and insights, resources and tools, evidence of what
chair the existing national forums in Northern Ireland, and test-and-learn projects with partners
works, and a space to collaborate and share ideas as
Scotland and Wales.
a growing community. n Work in partnership with the Behavioural Insights
n Special Interest & Task-and-Finish groups – time, Team and financial services firms to complete four
or output-bound stakeholder groups focused on ongoing innovation pilots; test new ideas to drive
delivering key activities and objectives within the the national goals.
delivery plans (e.g. to develop a Savings Charter for Lead and support key initiatives to drive
n Continue our partnership with Nest Insight,
the financial services industry). These groups will the national goals BlackRock and JP Morgan to test innovative
report progress into the National Delivery Forums.
payroll-deducted savings schemes.
We will also co-ordinate with key stakeholders across As well as co-ordinating others to support the ambitions n Complete our innovation partnership with Nesta to
each England region to start to co-develop regional of the UK Strategy, we will directly contribute to each of find solutions to support people impacted by the
action plans, in support of the England Delivery Plan. the national goals. As the policy and delivery landscapes pandemic and put in place a scale-up plan.
across each goal are distinctly different, so too are the
roles we will play – in size and scope – complementing We will also directly contribute to the national goals
valuable work conducted by other key organisations. through delivery of our services for customers:
Within the forthcoming national delivery plans, we will n for how we will support Better Debt Advice,
set out the range of initiatives that we, and others, will see Priority 1;
deliver over the coming years. MaPS key deliverables n for Nation of Savers and Credit Counts,
for 2021/22 are summarised in the following section. see Priority 2; and
n for Future Focus, see Priority 3.Money and Pensions Service Corporate Plan (2021/22) 14
5 Building on strong
foundations
Continuing to deliver vital services and operate effectively throughout the
pandemic has shown the importance of having strong organisational foundations.
The importance of having caring, expert colleagues and delivery partners,
who are committed to improving outcomes for consumers. The importance
of strong governance, process and technology that enable agility and flexibility,
ensuring high-quality services continue to be available for those who need them.
And the importance of trusted, collaborative relationships with others who share
our vision of everyone making the most of their money and pensions.
In our first two years, we have brought three organisations together as one and built
strong foundations to set us up for success. Our next phase will see us transition from
establishing the organisation to enhancing it – ensuring we have the capabilities we
need now and in the future, responding to an ever-changing context.
Since 2019, we have created our new shared vision, values, and corporate and
consumer brands (MaPS and MoneyHelper). We strengthened our teams, adding
key skills and capacity to complement the deep expertise and experience of our
existing colleagues. We transformed our technology estate, enabling colleagues
to work together more effectively and efficiently, as well as enabling better
experiences for our customers.
7
MaPS helped deliver over
1 million customer advice and
guidance sessions in 2020/217
7 This is calculated by combining the customer sessions we fund and deliver directly across all our statutory functions.
It does not include digital journeys.Money and Pensions Service Corporate Plan (2021/22) 15
In line with the Financial Guidance and Claims Act n respond to the outcome of the Department of
2018, we developed the MaPS Standards to drive best- Work and Pensions Review of MaPS and prioritise Welsh Language Scheme
practice quality standards for our directly and indirectly implementation of its recommendations; MaPS has adopted the principle that, in the conduct
delivered services for consumers. Delivering against of public business in Wales, it will treat the Welsh
n publish our three-year Corporate Strategy –
our responsibilities as an Arms Length Body, including and English languages on a basis of equality.
postponed to reflect the Departmental Review
managing public money, we embedded stronger
recommendations and to align to the timelines The Welsh Language Act 1993 gives the Welsh and
governance, planning and financial controls.
of the Spending Review; English languages equal status in public life in Wales.
Much of this was developed and implemented in the It places a duty on the public sector to treat both
n publish and start to roll out the MaPS Standards
context of the pandemic. As with other organisations, languages equally when providing services to the
as approved by the FCA. We will continue to
this experience has both shaped and tested our ability public. The Act requires every public body providing
engage key stakeholders, including the devolved
to be agile and responsive to a challenging and turbulent services to the public in Wales to prepare a Welsh
administrations, as part of implementation;
environment. We successfully adapted working practices Language Scheme, setting out how it will provide
to enable homeworking, whilst flexing our resource n start to plan and design a new Data and Insights Hub. those services in Welsh.
model and in-year priorities to provide increased support This will lay the foundations for MaPS to become the
to frontline services and COVID-19 response initiatives. leading voice on financial wellbeing data in the UK, in As a result of the Welsh Language (Wales) Measure
the longer term supporting the design and targeting of 2011, statutory standards will replace Welsh Language
Now, we will shift our focus to how we build on these Schemes and some organisations will be required
services that drive better outcomes for customers and
strong foundations. And how we continue to evolve and to comply with one or more standards of conduct
the wider sector;
adapt our organisation and enabling functions to ensure on the Welsh language. However, as a sponsored
that we have the right capabilities in the right place to n update our accountability framework for Data organisation of a Crown Body, we will continue to
deliver our priorities. Protection Compliance in line with new guidance implement a Welsh Language Scheme.
from the Information Commissioner’s Office (ICO); and
In 2021/22, we will: MaPS will launch its Welsh Language Scheme in 2021,
n strengthen internal governance, risk management and this describes how we will give effect, so far as
n continue to invest in attracting and retaining diverse
and operational controls, including by implementing is both appropriate in the circumstances and
talent – colleagues who share our values of caring,
new compliance and assurance frameworks. reasonably practicable, to the principle established
connecting and transforming. We will start to embed
our new workforce Equality, Diversity and Inclusion by the Welsh Language Act, and how we will deliver
strategy, establishing MaPS as a place where people services to people in Wales.
thrive and deliver their best performance. We will also
launch a new Occupational Health Service to support
colleague wellbeing;Money and Pensions Service Corporate Plan (2021/22) 16 Measuring success Our evaluation approach For everyone to make the most of their money and pensions, we must deliver services that are informed by solid evidence about what works, as well as what does not. We continuously evaluate our services using a range of approaches to understand how and where we are helping our customers most effectively. Across each area of our business, there are individual quality assurance processes and targets in place, each specially tailored to ensure customers receive the best possible advice and guidance. We adopt best practice in the evaluations we commission, drawing on resources such as HM Treasury’s Magenta Book and the UK Evaluation Society’s Good Practice Guidelines. This year we plan to implement a new and improved way of evaluating our delivery across all customer touchpoints. We will do this by focusing on both ‘quality of service’ metrics (satisfaction, likelihood to recommend and identification of red flags), as well as ‘outcomes’ which help understand longer-term impact. We are also undertaking service innovation programmes that will test and develop changes to our customer services to improve efficiency and deliver better results in real-time. We are evaluating the UK Strategy for Financial Wellbeing with the same rigour as our customer services. The Strategy has ambitious, decade-long national goals, and we will measure its impact on the population. In 2021/22 we are focused on understanding how the Strategy is progressing: what might work, what is not working as expected and where we can improve.
Money and Pensions Service Corporate Plan (2021/22) 17
Key Performance Indicators and Performance Framework
Debt Advice Pensions Money
Helping people in financial crisis Helping people with their pensions Helping people in need manage their
and financial future money today
Reach: helping to ensure that we Deliver 536,000 debt advice sessions Deliver 420,000 personalised pension Deliver 235,000 money guidance
continue to increase the number of in England guidance sessions sessions
people who get the help they need, n 215,000 Pensions Freedoms
when they need it.
n 205,000 Pensions Guidance
COVID-19 response Over the course of the pandemic, N/A Over the course of the pandemic,
provide additional debt advice capacity provide enhanced money guidance for
to support up to 1 million people up to 2 million across the UK
Satisfaction: helping to ensure that 85% of customers are satisfied 85% of customers are satisfied 85% of customers are satisfied
our customers are satisfied. and 85% of customers would and 85% of customers would and 85% of customers would
recommend MaPS recommend MaPS recommend MaPS
Quality*: helping ensure that our Quality Assurance (QA) scores average QA scores average 85% across all QA scores average 80% across all
guidance and advice is delivered 75% across all advice assessed guidance assessed guidance assessed
to a consistently high quality.
*Across each delivery area, there are different and specific quality assurance processes and targets in place, which means these measures are not directly comparable. Over the
course of 21/22 we are working to harmonise quality assurance measures to provide consistency.
Across all services
Digital: supporting our service areas Deliver 21 million engaged digital sessions
Developing in 2020/21
In 2021/22 we are building new measures for quality assurance, outcomes and efficiency. The metrics below will be monitored on a quarterly basis,
with a target of realising new baselines by end of Q2 2021/22.
Outcomes: ensuring that we are By September 2021 we will achieve a baseline for our customer outcomes focused on
focused on improving the financial understanding, resolution and wellbeing
wellbeing of our customers.
UK Strategy: working with partners to Evaluating the UK Strategy and measurement milestones – critical success factors to be defined further in 2021/22
improve financial wellbeing.
Efficiency: ensuring we are providing n Ratio of corporate costs to total staff costs n Percentage procurements through centralised frameworks
value for money. n Ratio of total corporate costs to total costs n Percentage procurements completed within target
n Percentage budget vs. expenditure timeframes
n Cost per customer supported (by channel/service route)Money and Pensions Service Corporate Plan (2021/22) 18
Our budget for 2021/22
Our budget for 2021/22 is £157.4m: £147.6m resource spending, £0.8m capital spending, £9.0m for the Pensions Dashboard Programme.
We are funded by levy payers and through the DWP. The Pensions General Levy on pension schemes is collected by The Pensions Regulator. The Financial Services Levy is
collected by the FCA and split into three elements: money guidance, debt advice and pensions guidance (for pension freedoms guidance). The majority of our costs are directly
attributable to particular levies, for example our frontline services such as the pensions guidance helpline, or debt advice or money guidance. Other costs, primarily for the
enabling functions which support our delivery, are allocated between the two levies.
2021/22 Budget split by strategic priority (£157.4m)
2021/22 Budget split by Levy (£157.4m)
Pension
Guidance
£8.2m
Pension Core – Running Staff Costs
Guidance the business £28.3m
£8.2m £4.8m
Pension Freedoms
£31.6m
Core – Running Staff
5. Building Costs
strong
the business £28.3m
foundations
Pension Freedoms £4.8m £2.5m
£31.6m
1. Helping people
5. Building strong 4. Working with
in crisis
Debt Advice foundations partners to deliver
£86.3m
£94.6m £2.5m national goals
Money Guidance £2.0m 1. Helping
4. Working with 3. Helping people people
£23.0m Debt Advice plan forinthe
crisis
future
partners to deliver
£94.6m £27.5m £86.3m
national goals
Money Guidance £2.0m
£23.0m 3. Helping people
plan for the future
£27.5m
Debt Advice 60.1% 2. Helping people manage 1. Helping people in crisis 54.8%
Pension Freedoms 20.1% their money today 2. Helping people manage their money today 3.8%
Money Guidance 14.6% £6.0m 3. Helping people plan for the future 17.4%
Debt Advice Pension Guidance 60.1% 5.2% 4. Working with partners to deliver national goals 1.3%
Pension Freedoms 20.1% 2. Helping people manage 1. Helping people in crisis 54.8%
5. Building strong foundations 1.6%
Money Guidance 14.6% their money today 2. Helping people manage theirCore
money today the business
– Running 3.8% 3.1%
Pension Guidance 5.2% £6.0m 3. Helping people plan for the future 17.4%
Staff Costs (all above items exclude staff costs) 18.0%
4. Working with partners to deliver national goals 1.3%
5. Building strong foundations 1.6%
Core – Running the business 3.1%
Note: Numbers/percentages may not tally due to rounding Note: Numbers/percentages18.0%
Staff Costs (all above items exclude staff costs) may not tally due to roundingMoney and Pensions Service Corporate Plan (2021/22) 19 How to get involved If we are going to build back better from COVID-19 – and ensure that everyone in the UK really makes the most of their money and pensions – there needs to be a co-ordinated, long-term focus on improving financial wellbeing. If you want to learn more about MaPS and our vision, or want to know how you can work with us: n visit maps.org.uk/partnerships; n contact strategy@maps.org.uk; n or join the conversation at #UKFinancialWellbeing. If you, or someone you know, need help or support with money: n get guidance from moneyhelper.org.uk; n access debt advice through our locator tool moneyadviceservice.org.uk/en/tools/debt-advice- locator; n or call us directly on 0800 138 7777.
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